Wockhardt tanks 5 per cent after weak Q2 numbers

The company reported 81.59 per cent dip in consolidated net profit to Rs 17 crore for the September quarter of the current fiscal.

Mumbai

: Shares of Drug firm Wockhardt today tumbled over 5 per cent after the company reported 81.59 per cent dip in consolidated net profit to Rs 17 crore for the September quarter of the current fiscal.

After a weak opening, the stock further fell 5.61 per cent to Rs 768.60 on BSE. On NSE, it plunged 5.68 per cent to Rs 767.55.

The company yesterday reported decline in consolidated net profit of Rs 17.02 crore for the second quarter of 2016-17 on account of dip in sales.

Net profit was Rs 92.45 crore in the July-September period of the last financial year, Wockhardt said in a BSE filing.

The firm's total income on consolidated basis was down 13.41 per cent during the quarter under review to Rs 1,064.69 crore as against Rs 1,229.59 crore in the year-ago period.

\"International business contributed 59 per cent of the total revenues during the second quarter of 2016-17,\" the company said.

Wockhardt's total expenses came in at Rs 1,002.54 crore, down 5.93 per cent.